Etihad Cargo has expanded its fleet of freighter aircraft with the placement of a third B747 freighter from Atlas Air Worldwide as part of a multi-year Aircraft, Crew, Maintenance and Insurance (ACMI) agreement.

The 747-400 freighter is the third aircraft to be operated by Atlas Air on behalf of Etihad Cargo, and complements existing lease agreements previously signed by Etihad Cargo for B747 freighter aircraft in May 2012 and May 2013.

Scheduled to come into service this month, the B747-400 freighter aircraft has a payload capacity of 115 tonnes and a range of more than 8,000 kilometres.

James Hogan, Etihad Airways president and chief executive officer, said: “Etihad Cargo continues to play a vital role in the growth and profit of the airline. We reported US$804 million in cargo revenue during the first three quarters of 2014, and we are on track for this business to be turning over US$1 billion by the end of the year.”

William J. Flynn, president and chief executive officer, Atlas Air Worldwide, said: “We are continuing to expand our strategic partnership with Etihad Cargo and are delighted to support the sustained strong growth of its global cargo network.”

The delivery will take Etihad Cargo’s freighter fleet to 10 aircraft, consisting four A330-200F, three B777F, and three B747F aircraft.